SLB Limited $SLB Stock Position Boosted by Ballast Advisors LLC

Ballast Advisors LLC boosted its stake in SLB Limited (NYSE:SLB) by 22.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 77,111 shares of the oil and gas company’s stock after acquiring an additional 14,343 shares during the quarter. SLB comprises 0.8% of Ballast Advisors LLC’s holdings, making the stock its 23rd biggest position. Ballast Advisors LLC’s holdings in SLB were worth $2,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLB. Charles Schwab Investment Management Inc. grew its position in SLB by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after buying an additional 39,474,501 shares in the last quarter. Boston Partners lifted its holdings in SLB by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after acquiring an additional 4,300,222 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in SLB by 211.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after acquiring an additional 4,066,500 shares during the last quarter. Nuveen LLC acquired a new stake in SLB in the 1st quarter valued at about $169,232,000. Finally, Banque Transatlantique SA lifted its holdings in SLB by 21,737.8% in the 1st quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after acquiring an additional 1,850,760 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Price Performance

SLB stock opened at $35.84 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a one year low of $31.11 and a one year high of $44.97. The firm has a market capitalization of $53.55 billion, a PE ratio of 13.84, a P/E/G ratio of 9.91 and a beta of 0.97. The firm has a 50-day moving average of $34.66 and a two-hundred day moving average of $34.55.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. On average, analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is 44.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SLB shares. Melius started coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Stifel Nicolaus cut their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Wells Fargo & Company downgraded shares of SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, UBS Group reissued a “buy” rating and issued a $44.00 price target on shares of SLB in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average price target of $51.69.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by company insiders.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.